In 1995, 7.4 million people used the internet. The growth rate is 59% each year.
What is the general equation of the function?
To determine the general equation of the given growth rate, we first need to identify the variables involved. In this case, we have the initial value (1995) and the growth rate (59% per year).
Let's define the initial value as "P0" and the growth rate as "r". In this case, P0 represents the number of people who used the internet in 1995, and r represents the growth rate expressed as a decimal (59% = 0.59).
The general equation can be written as:
P(t) = P0 * (1 + r)^t
In this equation, P(t) represents the number of people who used the internet after t years.
Plugging in the given values, we have:
P(t) = 7.4 million * (1 + 0.59)^t
Simplifying further:
P(t) = 7.4 million * (1.59)^t
So, the general equation for the growth rate of internet users over time is P(t) = 7.4 million * (1.59)^t.